Gold 1808 to 1745 -What Next .....?
With drop to 1745 Gold has completed 50% Fibonacci Retracement of up wave from 1681 Low to 1808 high.
Daily Chart shows a straight fall for five days while Stochastics approach oversold Territory calling for a rebound towards broken support turned resistance areas of 1777 and 1783
Our view is that Gold is like to drop to 61.8% Fibonacci level at 1730 and start a Bullish Reversal which initially aims for retest of 1777 and 1783.
A decisive consolidation above this supply zone should provide enough energy to the momentum to advance towards swing high 1808.
Elliot Wave count indicates that 1681 to 1808 has completed Wave A-B and 1808 to 1730 will complete Wave B-C with 61.8% retracement of Wave A-B.
Wave C-D should be targeting Gold to reach 1856 over the next few weeks.
Note: Break below 1700 will invalidate the formation.
Disclaimer: The above illustration is a only a Technical Study with an overview and does not purport to be an investment advice.
Daily Chart shows a straight fall for five days while Stochastics approach oversold Territory calling for a rebound towards broken support turned resistance areas of 1777 and 1783
Our view is that Gold is like to drop to 61.8% Fibonacci level at 1730 and start a Bullish Reversal which initially aims for retest of 1777 and 1783.
A decisive consolidation above this supply zone should provide enough energy to the momentum to advance towards swing high 1808.
Elliot Wave count indicates that 1681 to 1808 has completed Wave A-B and 1808 to 1730 will complete Wave B-C with 61.8% retracement of Wave A-B.
Wave C-D should be targeting Gold to reach 1856 over the next few weeks.
Note: Break below 1700 will invalidate the formation.
Disclaimer: The above illustration is a only a Technical Study with an overview and does not purport to be an investment advice.
הערה
And Gold reached $1729הערה
Gold made low of 1727.80 and jumped to 1737הערה
Gold jumped to 1754$26 up move from the lows. Exciting yeah!
הערה
Gold tested 1765$36 jump from the lows.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.